Which of the following variables are included in the index of leading indicators?
a. new orders placed with manufacturers, length of average workweek, permits for new housing starts
b. changes in the M1 money supply, number of new credit cards, political stance of current politicians
c. average worker salary, average number of children per family, current standard of living
d. labor-force participation rate, household debt as a share of disposable income, the real interest rate
A
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When constructing an economic model, economists
a. rely mostly on their own value judgments and ignore the far more complex world of facts b. always try to duplicate reality by including all available information c. use assumptions that are true for the individual but never true for the whole economy d. must rely on simplifying assumptions that abstract from the complexity of the real world e. are primarily concerned with making realistic assumptions
By owning common stock in a corporation, one has the right to
a. a position on the board of directors b. a job with the company c. help manage the company d. vote at shareholder meetings e. a guaranteed profit